Tata Elxsi revenue rises 17% yoy at Rs 850 crore in Q1FY24

Tata Elxsi has announced its first quarter results for the period ending June 30, 2023.

Highlights of Q1FY24

• Revenues from operations at Rs 850.3 crore 
• Industry leading EBITDA Margin of 29.6% 
• Profit before Tax of Rs 248.3 crore
• Crosses 12,000 employee mark with 422 net additions in the quarter

For the quarter ending June 30, 2023, the company reported Rs 850.3 crore of operating revenue, a growth of 17.1% over the same quarter of the previous year (YoY). During the period, Profit before Tax stood at Rs 248.3 crore, registering a growth of 8.9% YoY.

Business Highlights:

• The Industrial Design & Visualization division recorded a strong growth of 41.1% YoY in constant currency terms. Company’s Design-Digital offerings continues to drive volume led growth in a challenging global market environment. 
• Transportation continues to show healthy growth, registering a revenue growth of 17.0% YoY in constant currency terms, and a healthy large deal pipeline across SDV and EV. 
• Healthcare signalled a strong recovery, registering 3.2% QoQ growth in Q1 of FY24 in constant currency.

"I am delighted by the all-round customer excellence demonstrated by Elxsians that has allowed us to grow strongly with our key customers and positioned us well for competitive differentiation and new project considerations across our customer base", said Manoj Raghavan, CEO and Managing Director, Tata Elxsi.

During Tuesday's morning trading session, shares of Tata Elxsi were under pressure and trading lower by 1% at Rs 7632 per share on the BSE. 

Source: Media Reports